African Economies to Grow 4.5% on Average in 2015

TODAY: May 25, 2015 PUB DATE: May 25, 2015

By Matina Stevis NAIROBI--African economies will gather pace this year and next year, in their fitful and uneven economic ascent, three prominent organizations said in a joint report released Monday. On average, the continent's economies will grow 4.5% in 2015 ...

Barrick Gold Sells Cowal Mine

TODAY: May 25, 2015 PUB DATE: May 25, 2015

SYDNEY—Barrick Gold Corp. said it will sell an Australian gold operation to local miner Evolution Mining Ltd. for US$550 million, one of several planned sales aimed at helping the miner reduce billions of dollars in debt. Barrick, the world's largest ...

Amazon Changes Tax Practices in Europe -- Update

TODAY: May 25, 2015 PUB DATE: May 25, 2015

By Lisa Fleisher and Sam Schechner Amazon.com Inc. has started booking revenue from retail sales in individual European countries, instead of funneling all sales through low-tax Luxembourg, amid intense scrutiny of corporate tax practices in Europe. The change was made ...

European Stocks Down on Greek Debt Fears -- 2nd Update

TODAY: May 25, 2015 PUB DATE: May 25, 2015

By Peter Nurse European stocks pushed lower Monday, weighed down by concerns about the state of Greece's finances and political instability in Spain, although trading is limited with key markets closed. Over the weekend Greece raised doubts that it would ...

Citycon To Buy Norwegian Shopping Centers For EUR1.5 Billion

TODAY: May 25, 2015 PUB DATE: May 25, 2015

HELSINKI--Finnish shopping center owner Citycon Oyj (CTY1S.HE) Monday said it has agreed to buy Norway's second-largest shopping center company, Sektor Gruppen AS, for a debt-free price of 1.47 billion euros ($1.61 billion) in a deal that is expected to close ...

Officials Emphasize Unemployment's Threat to Europe

TODAY: May 25, 2015 PUB DATE: May 25, 2015

SINTRA, Portugal—High and divergent unemployment rates in Europe pose a serious threat to the region's long-term economic health, central bankers and economists warned during a weekend conference held by the European Central Bank. But they stopped short of offering specific ...

Japan Slides Back into Trade Deficit

TODAY: May 25, 2015 PUB DATE: May 25, 2015

TOKYO—Japan fell back into a trade deficit in April, although the result was much better than forecast, as a jump in exports to the U.S. helped mitigate an increase crude oil import volumes. A month after recording its first trade ...

Libor Case Comes to Trial

TODAY: May 25, 2015 PUB DATE: May 25, 2015

By David Enrich LONDON--Is a 35-year-old mathematician the modern face of financial crime? In a trial starting Tuesday in London, British prosecutors will contend that the answer is yes. They are preparing to cast Tom Hayes, a former star trader ...

Baltimore Grapples With Blight Quandary

TODAY: May 25, 2015 PUB DATE: May 25, 2015

By Scott Calvert BALTIMORE--In 2011, the city sold a vacant row house in East Baltimore's Oliver neighborhood to a developer who promised to restore it within 18 months. It is still boarded up. "It's gotten worse," said 60-year-old Patsy Jones, ...

Central Bankers Differ on Role in Reforms

TODAY: May 25, 2015 PUB DATE: May 25, 2015

SINTRA, Portugal—Top officials from the world's two largest central banks on Saturday offered differing views regarding the role they should play in pushing for government economic overhauls, highlighting the diverging paths of major economies and the challenges of achieving inflation ...

Canada Agency Guides for Stable Housing Market

TODAY: May 25, 2015 PUB DATE: May 25, 2015

By Don Curren TORONTO--Canada's housing market will remain stable this year and next, but lower oil prices will drive disparities between provinces, Canada Mortgage and Housing Corp. said Monday. A slowdown in housing starts and home resales in the oil-producing ...